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Updated almost 3 years ago on . Most recent reply
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Not informed about Housing Tenants
I purchased my property 3 years ago. It was a turn key property. Between my contract and closing the property management company rented the property to some one for 18 months. The same tenants renewed for 18 months again.
Today, I am coming to know that these tenants are housing tenants. The property management company never disclosed to me about it. Is it not a minimum expectation to disclose that my property is rented to housing tenants at the time of sale or after the sale?
The rents have gone up in the area but my property management is saying that housing may not approve more than $50 increase in rent. The tenants have been asking for so much on maintenance and that is costing me a lot. And the property management is not pushing back as they are housing tenants.
Need advise on what are my rights as an owner here and what I should do (Can I change the tenants? )
Thanks in advance.